Full description of Lambda
Lambda is a platform that allows storing dApps’ data. This is a secure, high-speed, and scalable project based on
Blockchain (?) which provides its users with unlimitedly scalable data storage capabilities for
Decentralized (?) applications. Lambda uses a unique Proof-of-Space-Time (PoST) algorithm, which is created on the base of Proof-of-Stake (PoS). In fact, Lambda is not an ordinary blockchain, this is a platform for storage, collection, and interaction of a number of blockchains combined with the Internet of Things and Artificial Intelligence.
Lambda structure
Lambda is based on trunk chain technology and cross-chain transaction verification, allowing users to perform high-speed transactions per second (up to 5,000 TPS). Lambda demonstrates some outstanding features: Lambda Chain, Lambda P2P (a P2P network system), Lambda DB (a multiple database cluster system), Lambda FS (a structured support system), Lambda ABE (an encrypted access system which represents the access control port for the database), Lambda TPA Chain (WorkChain3, an organization that confirms data integrity) and Lambda Agent (a self-tuned probe system).
There are three main participants of the network who are responsible for its functioning: nominators, validators, and fishermen. Validators perform transaction packing and
Block (?) generation, and they receive the highest reward in tokens. Validators’ hardware must comply with the strict requirements for memory, SSD hard disk, CPU, etc. If an error occurs due to the validator’s fault, the reward will be withheld. Validators may be viewed as an analog to
Mining (?) pools in the bitcoin system to some extent.
Nominators are the users who own tokens and stake them to validators. Their only responsibility is capital investment. According to the project rules, the security deposits entrustment is obligatory for each storage or database node. From this point of view, each
Node (?) is a nominator. Nominators may be viewed as an analog to miners in the bitcoin system.
Fishermen can receive a one-time reward if they report and prove the misbehavior of participants, i.e. bounty hunters.
Storage miners and retrieval miners are not mentioned in this list, though their functions are described in a number of articles in the project’s blog on Medium. They also play an important role in the project ecosystem, providing storage services and download bandwidth for users.
Lambda token
LAMB is a native
Cryptocurrency (?) fueling the Lambda platform. This is an Ethereum-based ERC-20 utility token. The coins are used to pay for the network services, and also as a reward for node owners, validators, and fishermen.
Lambda’s
ICO (Initial Coin Offering) (?) started on September 19th and ended on October 2nd, 2018. It consisted of 2 stages with a different
Token (?) price: the first one covered the period from September 19th until September 25th, while the second one covered the period from September 25th to October 2nd.
The maximum token supply equals to 10 billion, and they are distributed in the following way: there were 30% of tokens available for the public sale, 40% are allocated to miners, 20% are locked in the Foundation’s account, and 10% are dedicated to team and advisors.
The project offers its own LAMB wallet, but this cryptocurrency can be stored on any ERC-20 compatible
Wallet (?) such as MyEtherWallet, Metamask, Ledger Nano S and many more. LAMB is traded on a number of exchanges, such as Huobi, Bibox, Coinbene, etc.
Lambda team and notable investors
The company was founded in 2017 and it is located in Singapore. Xiaoyang He is the founder and CEO of the project. This Chinese software expert worked at BEA Systems and Oracle as an engineer. He is also the founder of OneAPM, a Chinese IT operation and maintenance management software and service provider.
There are also four co-founders: Haiqiang Gao (co-founder and COO), Monan Li (co-founder and CTO), Bingqing He, and Haijun Zhao.
Haiqiang Gao is a computer science Master graduate. He specializes in P2P network design and optimization. Li Monan founded two other tech companies prior to joining Lambda. He is an expert in search engine optimization, file systems, storage systems, and log systems.
The investors are highly interested in this company. The list of big investors and partners include more than 15 participants, among which are the following: FBG, one of the world's leading digital asset management firms, BitMain, a privately owned company which offers hardware and solutions for blockchain and artificial intelligence applications, or IOST, a decentralized blockchain network.
- Exchange symbol (?): LAMB
- Cryptocurrency type (?): Token (?)
Lambda for developers
Lambda social sites
Source: NOMICS
